Answer the following multiple choice objective questions by mark [A/B/C/D] the correct one. 1- According to Marginal Principle, level should be…

Answer the following multiple choice objective questions by mark [A/B/C/D] the correct one.
1- According to Marginal Principle, level should be chosen where:
a) MB = MC
b) MB is not equal to MC
c) MB is greater than MC
d) MC is greater than MB
2- Which of the following demand curve represent the case of “Perfectly Elastic Demand”?
a)Downward sloping
b)Upward rising
c)Horizontal
d)Vertical
3- Experience of Diminishing Marginal Returns by a firm is possible because:
a) All factors are fixed
b) At least one factors of production is variable.
c) All factors are variable
d)Total cost is increasing
4- A monopolist will maximize its profit, when its:
a)Total revenue is maximum
b)Marginal revenue is maximum
c)Marginal cost is equal to marginal revenue.
d)Total cost is maximum.
5- Oligopoly market with only two firms is called:
a)Monopoly
b)Perfect competition
c)Monopolistic competition
d)Duopoly
 
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